EUR/USD Price Analysis: Immediately to the upside comes 1.0640

Market news

16 October 2023

EUR/USD Price Analysis: Immediately to the upside comes 1.0640

EUR/USD reverses two daily drops in a row and revisits 1.0550.
The surpass of 1.0600 should open the door to extra gains.

EUR/USD sets aside two consecutive daily pullbacks and retests the mid-1.0500s at the beginning of the week.

In case bulls maintain control, the pair should retarget the 1.0600 barrier ahead of the weekly high of 1.0639 (October 12).

Meanwhile, further losses remain on the table as long as the pair navigates the area below the key 200-day SMA, today at 1.0822.

EUR/USD daily chart

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